Moody's slashes Italy’s 2019 growth forecast to 0.2% from 0.4%

Dhwani Mehta FXStreet

In its latest review report on the Italian economy, the US-based Moody’s Investors Service cut Italy’s growth outlook for 2019 to 0.2% when compared to a 0.4% expansion predicted previously.

The rating agency said that Baa3 rating reflects elevated public debt levels that are unlikely to decline in the coming years, adding that still weak banking sector and volatile politics also constrain Italy’s rating.

EUR/USD holds the range below 1.1050, as the shared currency shrugs-off the above headlines.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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